Sally Medavoy will invest $8,000 a year for 20 years in a fund that will earn 12%
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Sally Medavoy will invest $8,000 a year for 20 years in a fund that will earn 12% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end, what amount will be in the fund in 20 years?
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First payment today Annuity Due n 20 FV AD 8000 FVF OA 20 12 112 FV AD 8000 72...View the full answer
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